Gold, Silver, Platinum Forecasts – Gold Retreats Amid Sell-Off In Commodity Markets

Gold

Gold is losing ground amid lack of additional positive catalysts. The recent rebound of the U.S. dollar put material pressure on gold markets.

A move below the $2600 level will push gold towards the support at $2580 – $2590.

Silver

Silver is under strong pressure as gold/silver ratio climbed above the 86.00 level.

If silver settles below the $30.00 level, it will head towards the 50 MA at $29.54.

Platinum

Platinum pulled back amid broad sell-off in commodity markets, which was triggered by the strong pullback in the oil markets.

From the technical point of view, platinum settled below the support at $975 – $985 and is trying to settle below the 50 MA at $955. In case this attempt is successful, platinum will head towards the support at $935 – $940.

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